Will A New Patio Add Value to Your Home?
You want to upgrade your home but aren’t sure if an outdoor living area is worth it. We’ve all been there. On the one hand, you want to take advantage of those gorgeous views of the Albuquerque Sandia Mountains and the Rio Grande River. On the other hand, renovations take time and money that you may not want to spend.
Don’t invest thousands into upgrades with low or no return.
The good news is there are plenty of backyard additions that can increase your home value when done right and with careful planning. Let’s cover popular outdoor living trends and the statistics behind what home improvements will actually increase your home value.
Before we dig into that though, let’s cover why outdoor living is so popular these days.
Outdoor Living Is Now Considered a MUST-Have
Outdoor living spaces have quickly evolved from being a bonus to an expectation for home buyers. They want the outdoor square footage to entertain guests, lounge by the fire, and be outside without leaving their house.
High demand additions include outdoor kitchens, fire pits, decks, and patios because they allow homeowners to spend more time outdoors.
Thinking of selling soon or after enjoying your new investment? Here’s how patio and outdoor additions can increase your home value.
If You Add a patio, does it Increase Your Home’s Value?
Picture yourself outside cooking on the grill. Friends and family sitting around a firepit chatting and laughing under the stars. Patios allow space for entertainment and gatherings while adding square footage you can live in. But will they add value to your home?
Will you get value by building a patio addition to your home?
Yes! While patios offer homeowners more space for entertainment and relaxation, they also provide a strong return on investment (ROI).
Return on Investment Statistics from Adding a Patio
Your patio can also increase your home value by approximately 10%-15% if you choose the right materials and invest in professional installation. Statistics from several national lumber stores indicate that homeowners who built a new patio saw a return of more than 100% on their investment.
Tip: Take your patio from nice to majorly impressive by installing built-in seating, fire pits, landscaping, decorative lighting, and outdoor furniture. You want your patio to blend with the home’s overall architecture and design, creating a seamless transition between indoor and outdoor living spaces.
Don’t have the option of installing a patio from scratch? Refresh your existing slab. Update old finishes, install a pergola and make small repairs.
Now onto another home favorite…. Will a deck add value to my home?
Installing a deck is another great option for sprucing up the outside of your home and adding functional outdoor living space. Decks differ from patios because they are usually elevated from the ground. They’re a great option if your property has lots of slopes because they easily connect your living room to your backyard. A deck also opens up your options for outdoor furniture placement, entertainment space, and overall square footage.
Do decks add value to a home? You bet they do!
Return on Investment Statistics from Adding a Deck
In fact, recent studies have found that an attached outdoor living space can boost value by nearly $15,000. On average, the experts estimate that you can expect a resale value of at least 70% on your deck investment. That’s significantly higher than most renovation projects.
Beyond patios and decks, have you thought about an outdoor kitchen?
Okay, who doesn’t want to cook outside? Having the ability to grill a full dinner without running extension cords all over your backyard is incredible. And imagine never having to miss another guest because you’re stuck cooking inside!
Adding a kitchen to your outdoor living space can transform your outdoor entertainment not only for you but also for potential homebuyers.
That might seem high considering not every home can or will accommodate an outdoor kitchen. But think about it–they’re worth it if you live in an area where the weather allows for outdoor dining several months out of the year.
No need for a full-sized kitchen. Start with essentials: a built-in grill, counter space, sink, and cabinets.
But if you’re looking to wow potential homebuyers and you live in an area where it can be enjoyed year-round, consider adding a pizza oven, mini fridge, or even a bar area. Just be sure to keep your climate and typical homebuyer in mind when making your final decisions.
FAQs
Does An Outdoor Living Space Add Value to a House?
Outdoor living spaces can definitely increase home value. However, like with most home renovations, it comes down to details. Spending your money on long-lasting, beautiful materials, getting the correct square footage, and paying professionals to install it will give you the best chance of adding value to your home.
If you live in an area that allows you to spend time in your backyard during most seasons, you’ll likely attract more buyers or allow your home to sit on the market less. A great backyard can significantly increase the chances of your home selling for more.
What Is the Best Addition to A Backyard?
Typically, well-manicured landscaping and a usable outdoor space provide homeowners with the biggest payoff.
Say you build a deck. Not only do you now have gorgeous design features, but you have square footage you can use. Invite guests over and they can entertain under your pergola, pull out chairs and furniture, and enjoy some alfresco dining. Spend more money on good quality decking materials like composite deck boards and you save money in the future by not having to maintain and replace.
Accessorize outdoors with a built-in fire pit, nice furniture, and landscaping. People will really notice your backyard when you add native New Mexico flowers and some trees.
Fire Pit ROI
Firepits not only add ambiance. They also create wonderful spaces to gather. Firepits can provide you with one of the highest returns on investment when you sell. With the addition of a firepit, you can recoup nearly 70% of your investment.
Don’t have a spot on your patio? Build one in your backyard! Create usable space for more months of the year by adding a fire pit. Just be sure you understand local regulations when choosing where to place them to prevent wildfires.
Patio Or Deck: Which Is Better for Adding Value?
Decks and patios both add value to your backyard. At the end of the day, it comes down to personal preference and your property. Decks tend to offer you a slightly higher ROI at almost 80% compared to 80 % for a patio. However, they do offer more versatility when handling slopes and steps.
The material and condition of your current patio or deck also play a large role. As does your overall budget and aesthetic you’re going for. There’s really no right answer if you consider all variables.
Say you build a deck. Not only do you now have gorgeous design features, but you have square footage you can use. Invite guests over and they can entertain under your pergola, pull out chairs and furniture, and enjoy some alfresco dining. Spend more money on good quality decking materials like composite deck boards and you save money in the future by not having to maintain and replace.
Accessorize outdoors with a built-in fire pit, nice furniture, and landscaping. People will really notice your backyard when you add native New Mexico flowers and some trees.
What’s Next
ASAP Sands Outdoor Services has been the go-to provider in Albuquerque for building decks, patios and outdoor features like a fire pit since 1984. If you’ve been thinking about adding one of these improvements to your backyard, give us a call at 505-293-4014 today to discuss your project or a free quote!
